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Italian Edibles IPO is a fixed price issue of ₹26.66 crores. The issue is entirely a fresh issue of 0.39 crore shares of ₹26.66 crore.
Italian Edibles IPO bidding started from Feb 2, 2024 and ended on Feb 7, 2024. The allotment for Italian Edibles IPO was finalized on Feb 8, 2024. The shares got listed on NSE SME on Feb 12, 2024.
Italian Edibles IPO price is ₹68.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,36,000 (2000 shares). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,72,000.
First Overseas Capital Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Nikunj Stock Brokers Ltd..
Refer to Italian Edibles IPO RHP for detailed Information.
| IPO Date | February 2, 2024 to February 7, 2024 |
| Listing Date | February 12, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹68 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 39,20,000 shares (aggregating up to ₹26.66 Cr) |
| Reserved for Market Maker | 2,00,000 shares Nikunj Stock Brokers Ltd. (aggregating up to ₹1.36 Cr) |
| Net Offered to Public | 37,20,000 shares (aggregating up to ₹25.30 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,08,57,151 shares |
| Share Holding Post Issue | 1,47,77,151 shares |
Italian Edibles IPO offers total 39,20,000 shares. Out of which 18,60,000 (47.45%) allocated to NII, 18,60,000 (47.45%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,00,000 (5.10%) |
| NII (HNI) Shares Offered | 18,60,000 (47.45%) |
| Retail Shares Offered | 18,60,000 (47.45%) |
| Total Shares Offered | 39,20,000 (100.00%) |
Italian Edibles IPO opens on February 2, 2024, and closes on February 7, 2024.
| IPO Open Date | Fri, Feb 2, 2024 |
| IPO Close Date | Wed, Feb 7, 2024 |
| Tentative Allotment | Thu, Feb 8, 2024 |
| Initiation of Refunds | Fri, Feb 9, 2024 |
| Credit of Shares to Demat | Fri, Feb 9, 2024 |
| Tentative Listing Date | Mon, Feb 12, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Feb 7, 2024 |
Investors can bid for a minimum of 2,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,36,000 |
| Retail (Max) | 1 | 2,000 | ₹1,36,000 |
| HNI (Min) | 2 | 4,000 | ₹2,72,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Founded in 2009, Italian Edibles Limited offers a wide range of confectionery products such as Rabdi [Meethai Sweet], milk paste, chocolate paste, lollipops, candies, jelly sweets, multigrain puffed buns, and fruit-based products under its OfCour's brand.
The company has two manufacturing facilities at Gram Palda, Indore and Prabhu Toll Kanta, Indore (Madhya Pradesh).
Italian Edibles is present all over India, especially in the rural and semi-urban areas of Andhra Pradesh, Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Karnataka, Kerela, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand and West Bengal. The company also exports its products to various countries such as Nigeria, Yemen, Sinegal, and Sudan.
As of August 31, 2023, the Company's customer list includes Chocolate World, Yuvraj Agency, Bakewell Biscuits Private Limited, R. K. Prabhavati Tarders, Mamta Stores, Ma Laxmi Traders, Suria Distributor, etc. In addition, one of its products, namely Jelly Candies, is sold to Dharpal Premchand Ltd (BABA) Group.
The company has a dedicated sales and marketing team consisting of 15 employees.
Italian Edibles Limited's revenue decreased by -16.1% and profit after tax (PAT) rose by 229.4% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Aug 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 4,824.64 | 4,155.24 | 3,905.45 | 3,946.43 |
| Total Income | 3,052.16 | 6,330.09 | 7,545.25 | 4,899.44 |
| Profit After Tax | 209.68 | 264.21 | 80.21 | 86.52 |
| Net Worth | 1,287.92 | 1,078.24 | 814.03 | 583.82 |
| Reserves and Surplus | 202.21 | 906.82 | 642.60 | 433.82 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Italian Edibles IPO is ₹100.48 Cr.
| KPI | Values |
|---|---|
| ROE | 24.50% |
| ROCE | 19.32% |
| Debt/Equity | 1.60 |
| RoNW | 24.50% |
| Price to Book Value | 1.08 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 2.43 | 3.41 |
| P/E (x) | 27.94 | 19.97 |
The Net Proceeds from the Issue are proposed to be utilized by the company for the following objects:
[Dilip Davda] The company is in the business of confectioneries and other food items. It posted inconsistency in its top line and a surprising boost in bottom lines from FY23 onwards. Based on annualized super earnings for FY24, the issue appears fully priced. Recent performance appears to have been cooked up. The company is operating in a highly competitive and fragmented segment. There is no harm in skipping this issue. Read detail review...
| Listing Date | February 12, 2024 |
| BSE Script Code | |
| NSE Symbol | ITALIANE |
| ISIN | INE0R7R01018 |
| Final Issue Price | ₹68 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹68.00 |
| Open | ₹55.00 |
| Low | ₹52.25 |
| High | ₹57.75 |
| Last Trade | ₹57.75 |
Italian Edibles Ltd.
309/1/1/8 Block No.03,
Mangal Udhyog Nagar,
Gram Palda,
Indore, Madhya Pradesh, 452020
Phone: +91 9826298268
Email: italian_edibles@yahoo.com
Website: https://www.ofcoursegroup.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Italian Edibles IPO is a SME IPO of 39,20,000 equity shares of the face value of ₹10 aggregating up to ₹26.66 Crores. The issue is priced at ₹68 per share. The minimum order quantity is 2000.
The IPO opens on February 2, 2024, and closes on February 7, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Italian Edibles IPO using UPI as a payment gateway. Zerodha customers can apply in Italian Edibles IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Italian Edibles IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Italian Edibles IPO opens on February 2, 2024 and closes on February 7, 2024.
Italian Edibles IPO lot size is 2000, and the minimum amount required for application is ₹1,36,000.
You can apply in Italian Edibles IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Italian Edibles IPO will be done on Thursday, February 8, 2024, and the allotted shares will be credited to your demat account by Friday, February 9, 2024. Check the Italian Edibles IPO allotment status.
The Italian Edibles IPO listing date is on Monday, February 12, 2024.
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